11-07-2017

Baltic index down for eighth straight session

Balticindex

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, inched lower on Monday on weaker rates for larger vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0.24 percent, at 820 points.

The capesize index dipped 23 points, or 3.05 percent, to 730 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $91 at $6,305.

The panamax index was down 1 point, or 0.09 percent, at 1,061 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $7 to $8,516.

Among smaller vessels, the supramax index fell 3 points to 729 points, while the handysize index rose 3 points to 474 points.

Source: Reuters

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